North American Financial 15 Split Corp. Completes Overnight Offering of $87,729,200
January 28 2022 - 7:24AM
North American Financial 15 Split Corp. (the “Company”) is pleased
to announce it has completed the overnight offering of Preferred
Shares and Class A Shares of the Company. Total gross proceeds of
the offering were $87.7 million, bringing the Company’s net assets
to approximately $710.9 million.
The shares will begin trading on the Toronto
Stock Exchange under the existing symbols of FFN.PR.A (Preferred
Shares) and FFN (Class A Shares).
The Preferred Shares were offered at a price of
$10.05 per Preferred Share to yield 6.7% and the Class A Shares
were offered at a price of $7.75 per Class A Share to yield
17.5%.
The offering was led by National Bank Financial
Inc.
The net proceeds of the offering will be used by
the Company to invest in an actively managed, high quality
portfolio consisting of 15 financial services companies made up of
Canadian and U.S. issuers as follows:
Bank of Montreal |
National Bank of Canada |
Bank of America Corp. |
The Bank of
Nova Scotia |
Manulife
Financial Corporation |
Citigroup
Inc. |
Canadian
Imperial Bank of Commerce |
Sun Life
Financial Services of Canada Inc. |
Goldman
Sachs Group Inc. |
Royal Bank
of Canada |
Great-West
Lifeco Inc. |
JP Morgan
Chase & Co. |
The
Toronto-Dominion Bank |
CI Financial
Corp. |
Wells Fargo
& Co. |
Commissions, trailing commissions, management
fees and expenses all may be associated with mutual fund
investments. Investors should read the prospectus supplement to the
Company’s short form base shelf prospectus dated July 3, 2020, as
amended September 27, 2021, before investing. Mutual funds are not
guaranteed, their values change frequently, and past performance
may not be repeated. Please read the Company’s publicly filed
documents which are available at www.sedar.com.
For further information, please contact
North American Financial 15 Split Corp. Investor Relations
at 416-304-4443 Toll free at
1-877-4-Quadra (1-877-478-2372) or visit
www.financial15.com
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